Spectrum Brands (NYSE:SPB) Given New $88.00 Price Target at Wells Fargo & Company

Spectrum Brands (NYSE:SPB) had its price target dropped by research analysts at Wells Fargo & Company from $92.00 to $88.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 3.99% from the company’s previous close.

Separately, Canaccord Genuity Group upped their price objective on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.13.

Spectrum Brands Trading Up 0.8 %

Shares of SPB opened at $84.62 on Tuesday. Spectrum Brands has a 1-year low of $75.50 and a 1-year high of $96.74. The company has a market capitalization of $2.37 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. The firm’s 50 day simple moving average is $89.53 and its 200 day simple moving average is $89.12.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The company had revenue of $773.70 million for the quarter, compared to analysts’ expectations of $747.80 million. During the same quarter last year, the business posted $1.36 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts forecast that Spectrum Brands will post 5.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SPB. Waldron Private Wealth LLC purchased a new stake in Spectrum Brands during the 3rd quarter valued at about $27,000. Brooklyn Investment Group purchased a new stake in shares of Spectrum Brands during the third quarter valued at approximately $31,000. International Assets Investment Management LLC boosted its stake in shares of Spectrum Brands by 9,420.0% during the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after purchasing an additional 471 shares during the period. Quarry LP increased its stake in shares of Spectrum Brands by 375.0% in the second quarter. Quarry LP now owns 570 shares of the company’s stock worth $49,000 after buying an additional 450 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Spectrum Brands during the 2nd quarter valued at $50,000.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.